M&A Deal Summary

HGGC Acquires Pearl

On September 8, 2014, private equity firm HGGC acquired insurance company Pearl

Acquisition Highlights
  • This is HGGC’s 1st transaction in the Insurance sector.
  • This is HGGC’s 15th transaction in the United States.
  • This is HGGC’s 4th transaction in Florida.

M&A Deal Summary
Date 2014-09-08
Target Pearl
Sector Insurance
Buyer(s) HGGC
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Estabrook Advisors (Financial)
Posternak Blankstein & Lund LLP (Legal)

Target

Pearl

Plantation, Florida, United States
Pearl is a comprehensive Managing General Agent (MGA) providing a full range of services from underwriting and policy management to claims processing and management to the non-standard auto insurance market. Pearl was formed in 1994 and is based in Plantation, Florida.

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Buyer(S) 1

Buyer

HGGC

Palo Alto, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
PE ASSETS 6.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HGGC (formerly Huntsman Gay Global Capital) focuses on middle-market leveraged buyouts, growth equity financings, recapitalizations, take privates, and corporate divestitures. The Firm primarily targets North American companies, but will consider international opportunities as well. HGGC looks for companies with at least $100 million in revenue. HGGC primarily targets enterprise software companies, however, the Firm will also consider opportunities in business services, consumer services, financial services, healthcare, industrial services, and information services. HGGC was formed in 2007 and is based in Palo Alto, California.

DEAL STATS #
Overall 17 of 46
Sector (Insurance) 1 of 5
Type (Buyout (LBO, MBO, MBI)) 6 of 11
State (Florida) 4 of 4
Country (United States) 15 of 40
Year (2014) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-01 AutoAlert

Irvine, California, United States

AutoAlert is a provider of data analytic and lead-generation solutions to the automotive dealership industry. AutoAlert was formed in 2002 and is based in Irvine, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-10 Idera

Houston, Texas, United States

Idera provides a suite of software tools to technical users, comprising of database, development, DevOps and software testing tools. These include the Idera line of SQL management tools, integrated development environments under the Embarcadero brand, UI components through Sencha, and test management and automation through TestRail and Ranorex. Their tools help database and system administrators maintain the performance and functionality of their systems, software developers produce better products more efficiently, and quality assurance professionals improve collaboration and automation. Idera was formed in 2004 and is headquartered in Houston, Texas.

Buy -
Mergr

Product

Company

Legal